CURRENT AFFAIRS

Detailed explanation-1: -It was completely unknown to the general public. In 2009, the first exchanges that were made were purely to testing mode and without a specific market value. The first recognized transaction between two people occurred on January 12, 2009 between Satoshi Nakamoto y Hal Finney, a developer and crypto activist.

Detailed explanation-2: -Bitcoin Market was announced on Bitcointalk in 2010 and it launched the same year, offering a floating exchange rate for bitcoin. Buyers could purchase bitcoin by sending another user U.S. dollars via PayPal while Bitcoin Market would hold the seller’s bitcoin in escrow until the seller received their money.

Detailed explanation-3: -Bitcoin was created in 2009 by a person or group of people using the pseudonym Satoshi Nakamoto, the name which appeared on the original 2008 Bitcoin white paper that first described the blockchain system that would serve as the backbone of the entire cryptocurrency market.

Detailed explanation-4: -Bitcoin’s first “big” jump happened in summer 2010. The price rose from a fraction of a cent in the spring to $0.09 by July. Very few people, except for very niche tech experts and finance enthusiasts, knew enough about bitcoin to buy the currency.